India

Securities / Derivatives

SEBI Issues New Rules for Small and Medium REITs

By Ajoy K Das | 12/03/2024

SM REITs schemes may raise funds from Indian as well as foreign investors and use them to acquire and manage real estate assets.

AML / KYC

SEBI’s FPI Disclosure Rules Create Anxiety for Foreign Funds

By Editors | 12/03/2024

Requirements for FPIs to disclose information about their investors present legal, regulatory and practical challenges for foreign funds.

Securities / Derivatives

SEBI Bars JM Financial from Acting as Lead Manager

By Ajoy K Das | 12/03/2024

SEBI said JM Financial engaged in practices which have a “detrimental effect” on the orderly functioning of the market.

Fintech / Regtech

RBI Tightens Rules for Debit and Credit Card Issuers

By Ajoy K Das | 11/03/2024

Card issuers are now required to put in place mechanisms to monitor the end use of funds for credit cards linked to business accounts.

Capital / Liquidity

AMFI Directs AMCs to Disclose Monthly Stress Test Results

By Ajoy K Das | 10/03/2024

The disclosures are intended to enhance transparency and provide investors with more insight into the risk profiles of small and mid-cap mutual fund schemes.

India, Indonesia Agree to Use Local Currencies in Cross-border Transactions

By Ajoy K Das | 08/03/2024

The agreement will promote the use of INR and IDR in all current account and permissible capital account transactions.

Fintech / Regtech

RBI to Require Card Issuers to Allow Customers to Choose Network

By Ajoy K Das | 08/03/2024

The RBI found from a review that some arrangements between card networks and card issuers are “not conducive to the availability of choice for customers”.

Securities / Derivatives

India’s AMFI Relaxes Rule on Payments to Fund Distributors

By Ajoy K Das | 07/03/2024

AMCs can pay trail commissions to new distributors after assets have been transferred from an old distributor by an investor, after 6 month cooling-off period.

Enforcement

RBI Imposes Business Restrictions on IIFL Finance Limited

By Ajoy K Das | 07/03/2024

IIFL Finance provided customers gold loans in excess of the statutory LTV limit, among several other supervisory concerns.